FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

( ₹ in 000)

Particulars

31.03.2021

31.03.2020

ADVANCES

1

Reserve deposits with ceding companies

81550 068

84732 845

2

Application money for investments

 0

 0

3

Prepayments

428 213

125 349

4

Advances to  Directors/Officers

3 068

4 682

5

Advance tax paid and taxes deducted at source (Net of provision for taxation)

7776 810

7490 057

6

Others

220 016

522 173

7

Deferred Commission

 0

 0

TOTAL (A)

89978 175

92875 106

OTHER ASSETS

1

Income accrued on investments

11619 081

10582 641

2

Outstanding Premiums

3

Agents’ Balances

4

Foreign Agencies Balances

5

Due from other entities carrying on insurance business  (including reinsurers)

120628 655

181202 630

6

Due from subsidiaries/ holding

7

Deposit U/S-7 of Insurance Act

 0

 0

8

Sundry Debtors

11 965

47 000

9

Sundry Deposits

18538 809

13782 633

10

LPA Assets

 0

 0

11

MAT Credit

7801 482

14405 245

12

Service Tax Unutilised Credit

 0

 0

13

GST Asset

107 463

907 360

14

VAT Asset Dubai

 0

 0

15

Gratuity Asset

29 029

 0

TOTAL (B)

158736 484

220927 509

TOTAL (A+B)

248714 659

313802 615

 0

 0

Notes:

(a) The items under the above heads shall not be shown net of provisions for doubtful amounts. The amount of provision against each head should be shown separately.

(b) The term ‘officer’ should conform to the definition of that term as  given under the Companies Act, 2013.

(c) Sundry Debtors will be shown under item 9(others)